The Mixing Department performs a series of processes in which a fluid chemical is concentrated. Records indicate that the Mixing Department has been charged with $192,000 of direct labor costs. The manufacturing overhead rate is 150% of direct labor costs. Beginning work in process was $672,000 and ending work in process totaled $102,000. One-half of this period's completed products is sold on account at a price equal to 160% of its cost. Prepare journal entries to record (1) various costs charged to the Mixing Department this! period, (2) transfer of this period's completed product, and (3) sale of one-half of this period's production. General Journal Description Ref. Debit Credit To record direct labor costs. To record manufacturing overhead. To record completed production (3) To record cost of goods sold. To record this period's sales.

Answer 1

1) Various costs charged to the Mixing Department this period:
Direct Labor Costs
Work In Process Inventory
Manufacturing Overhead

Work In Process Inventory
Raw Materials Inventory

2) Transfer of this period's completed product:
Finished Goods Inventory
Work In Process Inventory

3) Sale of one-half of this period's production:
Accounts Receivable
Sales Revenue
Cost of Goods Sold
Finished Goods Inventory